CHFA Down Payment Assistance Second Mortgage Loan
Colorado Housing and Finance Authority offers CHFA Down Payment Assistance Second Mortgage Loan to home buyers in Colorado: up to 4% of the home loan, at most $25,000, as a deferred loan.
- Amount
- Up to 4% of the home loan, at most $25,000
- Kind of help
- Deferred loan
- First-time buyers only
- No
- Credit score
- 620 or higher
How is CHFA Down Payment Assistance Second Mortgage Loan paid back?
Deferred loan: no monthly payment. You repay it when you sell, refinance, pay off your main home loan or stop living in the home.
A deferred loan costs nothing each month, but the whole amount is due when you sell, refinance or pay off the first mortgage.
Who qualifies for CHFA Down Payment Assistance Second Mortgage Loan?
- CHFA income limits vary by household size, county, targeted area, and program.
- You don't have to be a first-time buyer.
- A credit score of 620 or higher.
- A homebuyer education course before you buy.
- It comes with a CHFA first mortgage loan program.
- Price limit: varies by area; may be higher in targeted areas.
Most limits follow your county and household size. Our HUD income limits lookup shows your area's median income and where your household sits.
How to apply for CHFA Down Payment Assistance Second Mortgage Loan
- Colorado Housing and Finance Authority pays this help out through its approved lenders, so you apply with one of them, together with your home loan.
- The lender checks your income, credit and the home against the program's rules and reserves the money for you.
- The help is paid at closing, toward your down payment and closing costs.
Read the full rules and whether it is taking applications on Colorado Housing and Finance Authority's page for CHFA Down Payment Assistance Second Mortgage Loan, or pick a lender from the agency's list of participating lenders.
Ask a lender about CHFA Down Payment Assistance Second Mortgage Loan
Tell us where you're buying and a lender that works with Colorado's programs can tell you whether CHFA Down Payment Assistance Second Mortgage Loan fits you, and what you could combine with it.
Rather not call? Send your details and the lender will reach you.
Other first-time buyer programs in Colorado
- CHFA Down Payment Assistance Grant: up to 3% of the home loan, at most $25,000, grant.
All Colorado first-time home buyer programs · Down payment assistance in every state